McNeill Hotel Investors acquired the four-story, 105-room all-suite extended-stay Home2 Suites in Mobile, Ala. The Home2 Suites Mobile is situated on the southeast quadrant of Interstate 65 and Exit 1 and consists of approximately 750 square feet of meeting space, a fitness center and an outdoor pool.
“We are proud to add another Home2 Suites by Hilton to our growing hotel portfolio and in a market well known to us,” Phillip McNeill Jr., the company’s CEO, said in a statement. “We have great experience working with Hilton’s extended stay brands.”
The hotel was built within the McGowin Park retail development, which opened in 2015 and includes the Hank Aaron Stadium. It is located within 10 minutes of the downtown Mobile market, is within two minutes of the Mobile Regional Airport and is within minutes of several museums.
In the spring of 2018, the county of Mobile voted to proceed with the development of a 10-field soccer complex at the intersection of Interstate 10 and Interstate 65, making it a hub for regional and coastal cities to travel for games and tournaments.
“This property with its outstanding location and strong demand drivers is in excellent condition, having opened this May 2018,” Mark Ricketts, the company’s president and COO, said in a statement. “The city of Mobile is the state of Alabama’s only saltwater port and is a hub for transportation, manufacturing, healthcare and history. Mobile is also home to the University of South Alabama, which has approximately 15,000 students.”
The acquisition by McNeill Hotel Investors was facilitated by capital recently secured by McNeill through New York-based Almanac Realty Investors.
McNeill Hotel Investors and McNeill Hotel Company now own and manage 22 select-service hotels across the Southeast, the Midwest and Western States, with several additional properties in the acquisition and development pipeline.